Shiba Inu Price Analysis: Following 24% Weekly Gains, SHIB Facing a Big Move

Shibusdt 2021 12 27 14 22 25

Key Support level: $0.000030; $0.000034

Key Resistance level: : $0.000038; $0.000047

SHIB has managed to exit the downtrend, and the price is currently moving sideways. The resistance at $0.000038 has so far stopped SHIB from going higher. The current support is found at $0.000034, and SHIB could continue moving sideways until a breakout takes place.

Chart by TradingView

Technical Indicators

Trading Volume: The volume has increased ever since SHIB bounced off the $0.000030 support level. Interest in SHIB is growing, which is positive news for bulls.

RSI: The RSI on the daily failed to make a higher high on this last rally, but as of yet, it’s hard to categorize this as a bearish development.

MACD: The daily MACD remains bullish, but the histogram lost some of the momentum in the past few days. This is to be expected as SHIB is consolidating under resistance. If momentum fades more, then the cryptocurrency could retest the key support again.

Chart by TradingView


The bias on SHIB is bullish. Even if there is a pullback, that would likely be a healthy move before it explores higher levels.

Short-Term Prediction for SHIB Price

If SHIB is successful in breaking above the current resistance at $0.000038, then the price can rally to $0.000047, which is the next key level to watch for. If that fails, then a pullback becomes very likely to the key support at $0.000034 before another attempt is made to move higher.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 25% off trading fees.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Want To Stay Updated On the Latest Crypto News? Get the all the important news in Crypto, NFTs & all things Metaverse Instantly! No Yes

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.